Savings Account

• Suggested minimum opening balance for this type of account is $25.00
• Rate information: Contact Peoples State Bank for current rates
• Rate changes: Discretionary Rate, meaning that Peoples State Bank may change the interest rate at any time to any rate at its discretion, without prior notice to the depositor.
• No minimum balance for opening this type of account for depositor’s under the age of 18 or anyone needing depository for direct deposit.
• There are three (3) free withdrawals per month, with a $2.23 fee for excess withdrawals.
• Interest begins to accrue on the business day you deposit cash or non-cash items,
• Interest is compounded daily and credited on the last day of each quarter. If you close the account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate interest on this account. This method applies a daily periodic rate to the principal in the account each day.